Bitcoin's 20% Surge Puts Strategy Back in the Green With $1.4B Unrealized Gain
MSTR sits 43% above its 52-week low of $81.81.
Summary
Bitcoin's 20% surge over 72 hours flipped Strategy's 840,447 BTC position to a $1.4 billion unrealized gain, erasing months of underwater losses that peaked at $13 billion in July. MSTR is up 10% premarket around $124, extending Thursday's 7.81% close and clearing the $105 resistance that rejected four prior attempts. The company also repurchased roughly $347 million of STRC preferred stock over the past four weeks, deploying over a third of its $1 billion buyback authorization. Strategy sold about 6,916 BTC during the dip while building a $4.8 billion dollar reserve, providing 2.8 years of dividend coverage. The 100-day EMA at $122.16 is the immediate test, with the 200-day EMA at $157 as the next major target.
At the time of this announcement, MSTR was trading at $117.10 on NASDAQ in the Crypto Assets sector. The 52-week trading range was $81.81 to $365.21. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.